Shreeji Shipping Global's initial public offering (IPO) has concluded with overwhelming demand, marking a significant milestone for the shipping and logistics company. The ₹410.71-crore IPO garnered substantial interest across investor categories, reflecting strong market confidence in the company's prospects.

Subscription Details

The IPO, which consisted entirely of a fresh issue of 1.63 crore shares, saw bids for over 66.28 crore shares against the 1.14 crore shares on offer. This resulted in an impressive overall subscription of 58.1 times. The breakdown of subscription rates across different investor categories is as follows:

IPO Proceeds and Company Plans

Shreeji Shipping Global intends to utilize the proceeds from the IPO primarily for acquiring a Dry Bulk Carrier in the Supramax category. This strategic move aligns with the company's expansion plans and is expected to enhance its operational capabilities.

Allotment and Listing Details

Investors who participated in the IPO can now check their share allotment status through various platforms:

• BSE website
• NSE website
• Bigshare Services website (the registrar to the issue)

The company has outlined the following timeline for post-IPO activities:

• Share transfers to successful applicants' Demat accounts: Expected on August 25
• Refund processing for unsuccessful applicants: Expected on August 25
• Listing on stock exchanges: Scheduled for August 26

About Shreeji Shipping Global

Shreeji Shipping Global has established itself as a significant player in the shipping and logistics sector. The company boasts an impressive fleet of over 80 vessels and 370 earthmoving machinery units. Its operations span across India and extend to Sri Lanka, offering a wide range of shipping and logistics services.

The strong response to the IPO, particularly from institutional investors, suggests a positive outlook for Shreeji Shipping Global's future in the public market. As the company prepares for its stock market debut, investors and industry watchers will be keenly observing its performance and growth trajectory.

Shreeji Shipping Global's Initial Public Offering (IPO) has garnered significant investor interest, achieving an oversubscription of 2.91 times on the second day of its subscription period. The mainboard IPO, which aims to raise Rs 410.71 crore, has seen robust demand across various investor categories.

IPO Details

The IPO consists entirely of a fresh issue of 1.63 crore shares, with a price band set at Rs 240-252 per share. The subscription window opened on August 19 and is scheduled to close on August 21. Investors can look forward to the listing of Shreeji Shipping Global's shares on August 26.

Subscription Breakdown

The strong response to the IPO is evident from the subscription figures across different investor categories:

Retail Investor Participation

For retail investors interested in participating, the minimum investment required is Rs 13,920 for a lot of 58 shares. This accessibility has likely contributed to the strong retail investor interest in the IPO.

Company Profile

Shreeji Shipping Global operates in the shipping and logistics sector, with a specialization in dry-bulk cargo. This focus positions the company in a crucial segment of the global trade and transportation industry.

IPO Management

Beeline Capital Advisors is serving as the book-running lead manager for this IPO, overseeing the offering process and facilitating the company's entry into the public market.

The strong oversubscription, particularly from non-institutional buyers and retail investors, suggests a positive sentiment towards Shreeji Shipping Global's market debut. As the IPO enters its final day of subscription, it will be interesting to see the final subscription figures and the subsequent market response upon listing.